AGCO (NYSE:AGCO) Price Target Raised to $65.00

AGCO (NYSE:AGCO) had its target price hoisted by Morgan Stanley from $60.00 to $65.00 in a report published on Wednesday morning, Stock Target Advisor reports. The brokerage currently has an underweight rating on the industrial products company’s stock.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price target on Diageo and gave the stock a neutral rating in a research report on Wednesday. Zacks Investment Research lowered Great Portland Estates from a hold rating to a sell rating in a research report on Tuesday, April 16th. Royal Bank of Canada set a €86.00 ($100.00) price target on Henkel AG & Co KGaA and gave the stock a neutral rating in a research report on Tuesday, May 7th. Wells Fargo & Co restated a buy rating and set a $85.00 price target on shares of Carvana in a research report on Monday, July 1st. Finally, Jefferies Financial Group upgraded AGCO from a hold rating to a buy rating and increased their price target for the stock from $70.00 to $90.00 in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $74.85.

AGCO stock opened at $77.62 on Wednesday. The firm has a 50 day moving average price of $72.83. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.54 and a current ratio of 1.30. The firm has a market cap of $5.79 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.14 and a beta of 0.98. AGCO has a 12 month low of $49.50 and a 12 month high of $79.00.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.42 by $0.44. AGCO had a return on equity of 11.62% and a net margin of 3.49%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts expect that AGCO will post 4.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.82%. The ex-dividend date was Tuesday, May 14th. This is an increase from AGCO’s previous quarterly dividend of $0.15. AGCO’s dividend payout ratio (DPR) is presently 16.45%.

In other AGCO news, Chairman Martin Richenhagen sold 51,000 shares of AGCO stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.43, for a total value of $3,591,930.00. Following the sale, the chairman now owns 503,733 shares of the company’s stock, valued at approximately $35,477,915.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert B. Crain sold 25,000 shares of AGCO stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total value of $1,821,500.00. Following the completion of the sale, the senior vice president now directly owns 81,914 shares in the company, valued at approximately $5,968,254.04. The disclosure for this sale can be found here. Insiders have sold a total of 178,000 shares of company stock worth $12,710,000 in the last ninety days. 17.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Scout Investments Inc. bought a new stake in AGCO during the second quarter valued at $13,686,000. Retirement Systems of Alabama boosted its position in AGCO by 0.3% during the second quarter. Retirement Systems of Alabama now owns 83,894 shares of the industrial products company’s stock valued at $6,508,000 after acquiring an additional 230 shares during the last quarter. DNB Asset Management AS bought a new stake in AGCO during the second quarter valued at $1,606,000. FMR LLC boosted its position in AGCO by 29.1% during the first quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock valued at $95,288,000 after acquiring an additional 309,101 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in AGCO by 2.9% during the first quarter. Nordea Investment Management AB now owns 464,061 shares of the industrial products company’s stock valued at $32,275,000 after acquiring an additional 12,979 shares during the last quarter. 80.87% of the stock is currently owned by hedge funds and other institutional investors.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.

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Analyst Recommendations for AGCO (NYSE:AGCO)

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